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This case highlights a successful marketing strategy employed by a hotel in Hangzhou during the COVID-19 pandemic to attract business travelers. By conducting customer profiling and implementing promotional activities targeting the needs of the financial and consulting industries, the hotel achieved significant growth in room nights and bookings from the Boston Consulting Group. The strategy included offering additional benefits, promoting meeting facilities through the company's intranet, and providing personalized services to project team clients. The outcome was a 7.2-fold increase in production volume compared to the previous year. This case underscores the importance of timely market analysis, customization of promotional plans, and precise targeting to achieve successful marketing outcomes.
- Subjects:
- Marketing and Hotel, Travel and Tourism
- Keywords:
- Hotels -- Marketing COVID-19 (Disease) -- Economic aspect Target marketing Hospitality industry -- Marketing
- Resource Type:
- Others
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MOOC
Operations management deals with operational planning and control issues, and is needed in all sectors of the society. One of the challenges to operations manager is how to make use of the available resources in the best way for meeting a certain objective. Quantitative approaches are inevitably needed in tackling many of such problems. Operations Research (OR) deals with problem formulation and application of analytical methods to assist in decision-making of operational problems in planning and control. The techniques of OR are useful quantitative tools to assist operations managers, and has a wide applicability in engineering, manufacturing, construction, financial and various service sectors. Operations Research is an applied mathematics subject and is also a course in many engineering and management programmes. This course is designed for both students learning OR and learners who are practitioners in their respective professionals. The mathematical procedures for the OR techniques are introduced in details in the examples provided in the course. This helps learners to master the methodology and the techniques and apply them to achieve their goals through active learning. This course introduces two prominent OR techniques and their extended topics. The Simplex Method for Linear Programming (LP) has been considered one of the top 10 algorithms of the 20th century. LP is an optimization technique for solving problems such as finding the optimal product mix, production plan, and shipment allocation, in order to maximize the profir or minimize the cost. The Critical Path Method (CPM) is a popular technique employed by project managers in scheduling project activities. Some extended topics of CPM are also introduced to deal with certain special situations in project management. In reality, many systems operate under stochastic environment and the operational problems cannot be solved by the known analytical methods. To this end, the simulation approach is introduced in the last chapter of this course. Simulation is a powerful technique for tackling OR problems under such situations.
- Subjects:
- Statistics and Research Methods
- Keywords:
- Operations research
- Resource Type:
- MOOC
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Others
Learners follow the FMEA process to predict potential failures and to prevent them. This activity uses the example of getting to work to help participants comprehend the concepts and to apply them to their own work processes.
- Subjects:
- Management
- Keywords:
- Six sigma (Quality control stard) Corporate culture Production management -- Quality control Process control
- Resource Type:
- Others
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Others
Students read how profits can be doubled with the elimination of only a fraction of the "waste" in a company's operation.
- Subjects:
- Management
- Keywords:
- Workflow -- Management Process control Production management
- Resource Type:
- Others
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Others
Students examine examples for calculation yield, throughput yield, rolled throughput yield, and payback, each of which is used to analyze process performance in a Six Sigma project.
- Subjects:
- Management
- Keywords:
- Production management -- Quality control Process control Six sigma (Quality control stard)
- Resource Type:
- Others
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MOOC
This course covers the fundamentals of advanced fluid mechanics: including its connections to continuum mechanics more broadly, hydrostatics, buoyancy and rigid body accelerations, inviscid flow, and the application of Bernoulli’s theorems, as well as applications of control volume analysis for more complex fluid flow problems of engineering interest. This course features lecture and demo videos, lecture concept checks, practice problems, and extensive problem sets.
This course is the first of a three-course sequence in incompressible fluid mechanics: Advanced Fluid Mechanics: Fundamentals, Advanced Fluid Mechanics: The Navier-Stokes Equations for Viscous Flows, and Advanced Fluid Mechanics: Potential Flows, Lift, Circulation & Boundary Layers. The series is based on material in MIT’s class 2.25 Advanced Fluid Mechanics, one of the most popular first-year graduate classes in MIT’s Mechanical Engineering Department. This series is designed to help people gain the ability to apply the governing equations, the principles of dimensional analysis and scaling theory to develop physically-based, approximate models of complex fluid physics phenomena. People who complete these three consecutive courses will be able to apply their knowledge to analyze and break down complex problems they may encounter in industrial and academic research settings.
`The material is of relevance to engineers and scientists across a wide range of mechanical chemical and process industries who must understand, analyze and optimize flow processes and fluids handling problems. Applications are drawn from hydraulics, aero & hydrodynamics as well as the chemical process industries.
- Subjects:
- Mechanical Engineering
- Keywords:
- Fluid mechanics
- Resource Type:
- MOOC
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Video
In just two decades Vietnam's exports have skyrocketed. In the same time period, their GDP per capita also took a big jump from from 3 And, this is probably the only nation in Southeast Asia whose economy remained in a good shape despite the pandemic.
In 1986 Vietnam launched a political and economic innovation campaign Doi Moi that introduced reforms intended to facilitate the transition from a centralized economy to a "socialist-oriented market economy. Doi Moi combined government planning with free-market incentives. This was similar to what China was doing at that time. At first the program abolished agricultural collectives, removed price controls on agricultural goods, and enabled farmers to sell their goods in the marketplace. It encouraged the establishment of private businesses and foreign investment, including foreign-owned enterprises. By the late 1990s, the success of the business and agricultural reforms under Doi Moi was incredible. More than 30,000 private businesses had been created, and the economy was growing at an annual rate of more than 7 percent. From the early 1990s to 2005, poverty declined from about 50 percent to 29 percent of the population. However, progress varied geographically, with most development concentrated in urban areas. While the country has shifted toward a more market-oriented economy, the Vietnamese government still continues to hold a tight rein over major sectors of the economy, such as the banking system, state-owned enterprises, and areas of foreign trade.
Also from the last 20-30 years Vietnam invested a lot in its human capital and infrastructure. Vietnam made large public investments in primary education. This was necessary, as a growing population also means a growing need for jobs. But Vietnam also invested heavily in infrastructure. And those investments paid off, with the necessary infrastructure and with market-friendly policies in place, Viet Nam became a hub for foreign investment and manufacturing in Southeast Asia.
Yet despite becoming an industrial giant, Vietnam's agricultural sector is still a major pillar of the economy. Agriculture represents 14% of GDP and employs 36% of the total workforce in 2020. Whereas Industry contributed 34.5% of GDP and employed 28% of the total workforce. Service sector represented 41.6% of GDP and employed 35% of the total workforce.
Now if you look at the trade. Today China is Vietnam’s leading trading partner with a total import and export value of US$106.7 billion, making up 22.2% of the country’s total imports and exports. Apart from China, South Korea and the US combined makes 26% of total trade which is value's 120 billion dollars.
The International trade agreements of the country have been playing a good role. In 1995, Vietnam joined the Asean free trade area. Then in the year 2000, they signed a free trade agreement with the US, and in 2007 joined the World Trade Organization. While having trade agreements with China, India, Japan and Korea. And how can we forget the recently amended Trans-Pacific Partnership. These agreements are helping the country to climb up in the value chain of the world economy.
So at the end, we can say that, in the past 30 years Vietnam has achieved tremendous growth and it is still one of the fastest growing economies. And even with all these challenges, Vietnam has potential to join the club of the high income status. And who know someday they could get near the ranks of China.
- Course related:
- AF2602 Global Economic Environment
- Subjects:
- Finance and Economics
- Keywords:
- Vietnam Economic history
- Resource Type:
- Video
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e-book
"Macroeconomics: Theory, Models, and Policy by D. Curtis and I. Irvine provides complete, concise coverage of introductory macroeconomics theory and policy. The text observes short-run macroeconomic performance, analysis, and policy motivated by the recessions of the early 1980s and 1990s, the financial crisis and recession of 2008-2009, and the prolonged recovery in most industrial countries. A traditional Aggregate Demand and Supply (AD-AS) model is introduced, and a basic modern AD-AS model is developed. Numerical examples, diagrams, and basic algebra are used in combination to illustrate and explain economic relationships. Students learn about: the importance of trade flows, consumption, and government budgets
- Subjects:
- Economics
- Keywords:
- Textbooks Macroeconomics
- Resource Type:
- e-book
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e-book
"Principles of Macroeconomics is an adaptation of the text, Macroeconomics: Theory, Markets, and Policy by D. Curtis and I. Irvine, and presents a complete and concise examination of introductory macroeconomics theory and policy suitable for a first introductory course. Examples are domestic and international in their subject matter and are of the modern era -- financial markets, monetary and fiscal policies aimed at inflation and debt control, globalization and the importance of trade flows in economic structure, and concerns about slow growth and the risk of deflation, are included. This text is intended for a one-semester course, and can be used in a two-semester sequence with the companion text, Principles of Microeconomics. The three introductory chapters are common to both books"--BC Campus website.
- Subjects:
- Economics
- Keywords:
- Textbooks Macroeconomics
- Resource Type:
- e-book
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Video
In 35 episodes, Adriene Hill and Jacob Clifford teach you economics! This course is based on introductory college level curriculum and the 2015 AP Economics guidelines. By the end of this course, you will be able to: *Identify fundamental economic concepts, principles, or models and describe their similarities, differences, and limitations *Apply economic analyses to everyday life and see economics in real world situations *Discuss economic differences and similarities internationally and the roles played by various governments *Determine the outcome of an economic situation using economic concepts, principles, or models and possible effects changes have on other economic markets